SocGen Names The Likely Winner At Tomorrow's EU Summit, And It's Not Who You Expect

The main winner of tomorrow's huge EU summit will probably be... Serbia.

SocGen's Sanja Rajkovic says there is a good chance that Serbia will be given official candidate status for EU membership, which would be good for Serbian markets and the Serbian dinar.

That's right joining the crisis-ridden Union is still seen as an upside for emerging markets:

The forthcoming EU summit is not only critical for global markets but also for Serbia. While global markets will be focusing on the EU summit with the hope that the EU will make decisive steps towards resolving the sovereign crisis, there are other items on the agenda, and one of them being of particular importance for Serbia. Indeed, Serbia is impatiently waiting for the EU summit, at which it is hoped the country will obtain official EU candidate status. While, there is still a great deal of uncertainty about the outcome, we ultimately believe that Serbia stands a good chance to gain membership candidate status, which would represent a significant boost to investor confidence.

One notes that SocGen isn't so ready to predict a positive outcome from tomorrow's meeting regarding the debt crisis.